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Posted by Chris Case [75.36.45.193] on Wednesday, August 29, 2012 at 22:52:28 :
In Reply to: O/T posted by The Dodge Boys [64.121.152.7] on Wednesday, August 29, 2012 at 22:10:20 :
China is so far behind, they might as well be stone age, like they were up to 50 years ago.
While they are our biggest trading partner, their economy is only half what ours is. With 5 times the population, that means most of them still live on farms, hand cultivating for a living.
And while their labor rate per hour is 1/4 of what ours is, they are so inefficient that the final cost of a product is 60 % of what we do.
And they do hold a big chunk of our national debt, ummm 9%? (Japan is a close second, at 6%. But nobody complains.) But that just shows that the furinners have confidence in America, more than in their own economy, or they would be investing those billions in their own country.
Nah, I don't lose any sleep worrying that China is going to put us out of business. They have to much at stake.
Meantme, they are selling us tacky consumer items, which we pay for with worthless paper. Sounds fair to me. :^)
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